CoStar Group (NASDAQ:CSGP) Price Target Lowered to $100.00 at Needham & Company LLC

CoStar Group (NASDAQ:CSGP) had its price objective dropped by investment analysts at Needham & Company LLC from $107.00 to $100.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 30.09% from the stock’s current price.

A number of other equities research analysts also recently issued reports on CSGP. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a report on Wednesday. The Goldman Sachs Group reduced their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.85.

CoStar Group Price Performance

CoStar Group stock opened at $76.87 on Wednesday. CoStar Group has a 12 month low of $67.35 and a 12 month high of $100.38. The stock’s 50 day moving average is $76.47 and its 200-day moving average is $79.24. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $31.50 billion, a price-to-earnings ratio of 145.04 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $692.60 million for the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that CoStar Group will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of CoStar Group in the 3rd quarter valued at about $2,481,000. Greenleaf Trust acquired a new position in shares of CoStar Group in the 3rd quarter valued at about $283,000. Signaturefd LLC lifted its stake in shares of CoStar Group by 17.0% in the 3rd quarter. Signaturefd LLC now owns 4,533 shares of the technology company’s stock valued at $342,000 after purchasing an additional 658 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of CoStar Group by 25.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 7,435 shares of the technology company’s stock valued at $561,000 after purchasing an additional 1,507 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

About CoStar Group

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.